Business
AIML Continues to Streamline for the Future and Moves Beyond Tech2Heal
AIML Sharpens Focus with Strategic Exit from Tech2Heal Aligning Resources for Commercialization and Core Portfolio Growth Transition Positions AIML to Prioritize Commercial Execution While Remaining Open to Future Collaboration VANCOUVER, BC / ACCESS ...
About this update from Aiml Innovations Inc
[{"type":"list","items":[{"val":[{"type":"text","content":"AIML Sharpens Focus with Strategic Exit from Tech2Heal","length":54,"tagName":"p"}]},{"val":[{"type":"text","content":"Aligning Resources for Commercialization and Core Portfolio Growth","length":66,"tagName":"p"}]},{"val":[{"type":"text","content":"Transition Positions AIML to Prioritize Commercial Execution While Remaining Open to Future Collaboration","length":105,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":225,"olType":false},{"type":"text","content":"VANCOUVER, BC / ACCESS Newswire / March 21, 2025 / AI/ML Innovations Inc. ("AIML" or the "Company") (CSE:AIML)(OTCQB:AIMLF)(FWB:42FB) is pleased to announce the execution of a formal exit agreement dated March 21, 2025 (the "Agreement") with Tech2Heal SAS ("T2H"), a France-based digital health company in which AIML previously held a minority interest.","length":393,"tagName":"p"},{"type":"text","content":"On October 10, 2024, AIML reported an impairment loss of $1,510,668, following an internal assessment of its investment in T2H. While T2H had achieved modest growth, AIML determined that the company would require significant new capital to compete effectively in the market. As a result, AIML has concluded that it is in the best interest of the Company's stakeholders to focus the utilization of its human, financial and technological resources on the commercialization of its core holdings; NeuralCloud Solutions Inc., Health Gauge Inc., and Quantum Sciences Ltd.","length":569,"tagName":"p"},{"type":"text","content":"Per the Agreement, AIML will relinquish: 1) its 11.11% equity position in T2H; 2) its right to a seat on the T2H's board of directors; and 3) AI RX Inc.'s exclusive rights to T2H's products in North America. In return, T2H will rescind: 1) ownership of 1,500,000 common shares of AIML ("Shares"), which will be returned for cancellation; and 2) all 30% equity of AI RX Inc. owned by T2H. Further, Fabrice Pakin, CEO of T2H, did not stand for re-election to the AIML Board of Directors at the Company's recent annual general and special meeting of shareholders. Mr. Pakin will also resign from the board of directors of AI RX Inc.","length":655,"tagName":"p"},{"type":"text","content":"Paul Duffy, CEO and Chairman of AIML, stated: "AIML remains committed ...